What will the £/Euro exchange rate be on Nov 1 2019

ghrh

... When the pound was weaker than recently?

doug56hl

It doesn't when the pound in your pocket is worth less.
I was looking to buy an american produced bit of AV equipment. Price until recently £999.
Price now £1099. So I now need 10% more pounds to buy it.

Or more prosaically UK produced butter. Gone up from <£1 to £1.50 (Tesco).
I now need 50% more pounds to buy that.

My electricity costs have risen from £54 a month to £95 per month (due to a 2 year price fix ending) for the same amount of electricty used.  I now need 75% more pounds to pay for that.

A deutschmark was still a deutschmark but you needed a wheelbarrow full of them to buy a loaf of bread When hyperinflation drove Germans to use money as kindling

The Zimbabwe dollar was still a Zimbabwe dollar but a Zimbabwe one hundred trillion dollar bill
The 'worthless' 100 trillion dollar bank note  - CNN is worth around USD $5 purely for it's collectible novelty value and had a 'real' value of USD $0.40
Only if you have lots of money in the first place...
Do you really think those on low income are going to be able to make a lot of money from currency trading? 25% of British adults have no savings

I'm alright Jack is gloating...
It is easy to be optimistic when you get paid in a currency which is now worth more against the pound and you are resident in the UK. Not so easy to be optimistic when you get paid a UK state pension in pounds and are resident in a euro currency country. Since the referendum, the value of the pension, worth up to £130 a week, has decreased by up to 20% because of the collapse in the value of sterling.

But a pound remains a pound...

Bl4ckGryph0n

Not true, it will still be a pound.

Currencies fluxtuate all the time, some pass it one quickly other don't, some only adjust in their favour etc. A pound is still a pound.

Yet a pound is still a pound. A lot of the UK prices are opportunistic, the UK is unnecessarily expensive for many products/services.

So they put prices up, shop around. The pound is still a pound.

Blimey you are acting like a drama queen.

The scale will always be different for different people. The effect remains the same. Buy local produce and services, avoid foreign holidays, and the drop (hmmm increase!?) won't be noticeable.


Comprehension really isn't your strong point is it? What was the question? Who is optimistic....I'm sorry but I'm not even going to apologise for not dwelling in misery of may or may not happen. It doesn't help anyone.

And wasn't that the question? There will always be winners and losers. Ultimately it is a personal choice. I've also lost in that scenario. And actually I'm loosing anyway as I didn't exchange at it lowest point. But hey ho, so be it.

                                                                               

Those affected have a choice. Stuff happens all the time. Didn't hear them complaining when it was in their favour and at the cost of others.

Yay we got there

klaxhu

Sonic is just funny as always trying to twist any post brexit vote negative into a positive. Are you sure you are not a politician ? =)

It's sad really that it has come to this, I do not like losing any money as I am sure nobody is no matter how hard they pretend to not understand supply dependencies work and how strongly they are tied to the value of the pound.

Something a former school buddy working in Brussels said the other day to me when I was asking him what his view was from over there to what is happening here and if he still holds to his prediction from after the vote that we will crash out with no deal, I will quote him directly

"my friend if there’s anything i’ve learned about brexit in the past 3yrs is that brexit is a cult, and as it goes with organised belief you can’t make logical predictions..."

and

"the thing is that a no deal crash out whatever is not the end of it. just the beginning"
"here nobody talks about brexit anymore, everyone moved on. new commission, new agenda - brexit is a UK problem, not a EU problem"

So no, they do not care about our dear pound or our plans, they have plans around us and that will affect our pound even more going forward. Let's be happy if we get to 1:1 parity with the EUR and can negotiate some kind of deal

@Bl4ckGryph0n what country did you end up in then? I might have some plans after 10 years  in the UK to change to a different currency if you know what I mean

Bl4ckGryph0n

LOL Possibly. The EU is also a cult, except perhaps that the leader isn't charismatic but I guess that is subjective anyway.

And as I said before, very similar to Scientology, once you are in you can forget leaving.

But I agree, it is a UK problem. The UK should just leave, and stop messing about.

Anyway you are bringing this off topic @klaxhu

klaxhu

I disagree. It was a great preamble for people to understand EU's point about currency: they do not care about it! Simply because they do not care about Brexit any more. I think the UK thinks is still something special. It isn't! It is not any different to anything that exists out there, good or bad. And that's where our problems are coming from.

Sonic67

And it's not a disaster. Just different winners and losers.

Uncertainty is a cause. At present we have uncertainty over Brexit and a minority government. Both cause "uncertainty."

If we have an election and the Conservatives win a majority you'll see the pound go up.

If Labour wins, who traditionally are a disaster financially it will probably drop through the floor.

Either way for most ordinary people it has little effect unless you are going on holiday or buying expensive imported goods.

Sonic67

And just as funny is you trying to twist everything positive about Brexit into a negative. Are you sure you don't write for The Guardian? ;-)
It is sad how little people know. I notice that a lot.
I don't care about someone in Brussels, or what they are doing. They can crack on with their EU dream.

Sonic67

If the Euro is lower than the pound and has been since inception are you confirming it's been a disaster then?

ghrh

Didn't realise the Euro has lost value compared to the pound since it's inception. Are you sure?